Dailymotion Acquires Unnamed European Company, Expands to Japan
French video-sharing site Dailymotion has been in a state of flux lately. Earlier this year, Yahoo attempted to buy a $200 million majority stake in the video site but was denied purchase by the French government. According to newspaper LeMonde, the deal was squashed because the government of France did not want a US company holding a majority stake in a French company.
After the terminated Yahoo buyout, Dailymotion owner Orange was forced to invest $40 million in order to keep the site afloat. While the belly-up Yahoo deal sent Orange looking for more investors at first, the French company now seems content to grow Dailymotion’s on its own.
Since then, Dailymotion has been on a serious expansion campaign. According to French news outlet AFP, Dailymotion will soon open an office in Japan with the hopes of expanding to more Asian markets. In addition, Dailymotion has recently teased the acquisition of an unnamed European company.
It’s rumored that the mystery European buyout will help Dailymotion expand outside of France. Dailymotion has been coy about the acquisition, but the video site’s recent jump into rapid expansion hints that it may target large European video markets like the UK or Sweden.Tags: Dailymotion, online video, Orange, Yahoo!